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China Briefings

Reports on China issued by Samsung Economic Research Institute

China Business Intelligence No. 207

China Business Intelligence No. 207

Samsung Economic Research Institute Beijing Office

Nov. 4, 2011

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Since the outbreak of the EU sovereign debt crisis, China's senior officials have rolled up their sleeves to support the eurozone, underlining the importance of China-EU relations. The reason why China has continued to support the euro is because the role of the eurozone in China's economic growth is huge. Bolstering relations with its biggest trade partner, the EU, is an inevitable process in sustaining China's trade structure. At the end of 2010, China-EU trade neared US$500 billion and China's exports to major EU economies surpassed US$200 billion, making the EU China's biggest trade partner for seven consecutive years. China's EU-bound support, designed to raise China's international standing, has yet to bear tangible fruit and is expected to lose momentum. The EU debt crisis is hard to resolve in a short time, so China's policy to support the eurozone will become a heavier burden.

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